UPS quarterly profit rises 7 percent
THE ASSOCIATED PRESS April 25, 2013 8:02AM
In this April 10, 2013, photo, UPS driver Peggy Larson carries packages during her route in Manchester, Wash. United Parcel Service Inc. reports quarterly financial results before the market open on Thursday, April 25, 2013. (AP Photo/Kitsap Sun, Larry Steagall)
DALLAS — Consumers who kept spending after the holidays ended are helping to boost profit at UPS.
United Parcel Service Co. said Thursday that first-quarter profit rose 7 percent to $1.04 billion.
The company’s adjusted profit was $1.04 per share, better than the $1 per share that analysts expected.
Daily package volume in the U.S. increased and company revenue rose 2 percent to $13.43 billion, although that was a bit less than Wall Street predicted.
Atlanta-based UPS is sticking with its forecast of 2013 adjusted earnings of $4.80 to $5.06 per share. Analysts expect $4.98 per share.